Westlake Spectrum Office Park Sold for $23 Million

The five-building Westlake Spectrum office park in Westlake Village has sold, according to L.A.-based CBRE Group Inc.

Van Nuys real estate investor and developer Majestic Asset Management Inc. bought the property for just over $23 million, CBRE said. The campus at 31355 and 31365 Oak Crest Drive, and 4333, 4353 and 4373 Park Terrace Drive has more than 20 tenants and is about a half-mile from the Four Seasons Hotel.

The 118,555-square-foot portfolio last sold in 2002 for $18.6 million, according to CoStar Group Inc.